Top News

Collateral Free Loans Worth Rs.3 Lakh Cr Sanctioned; 45 Lakh MSME’s To Be Benefited

Mumbai: Finance Minister Nirmala Sitharaman while addressing the media announced that under the Rs.20 Lakh crores ‘Atmanirbar Bharat Mission’ special economic package Rs.3 lakh crore will be provided as collateral-free loans to the MSME’s in the country.

https://twitter.com/ANI/status/1260524834863214592?s=19

Due to the Coronavirus pandemic, Micro Small and Medium Enterprises (MSME) are the worst hit. To cope up with the fall of the businesses these collateral free automatic loans are released, and almost 45 Lakh businesses are expected to benefit from the loans.

https://twitter.com/ANI/status/1260525996668628993?s=19

“Rs 50,000 cr. equity infusion for MSMEs through Fund of Funds; to be operated through a Mother Fund and few daughter funds; this will help to expand MSME size as well as capacity,” said Sitharaman.

https://twitter.com/ANI/status/1260526746266304512?s=19

MSMEs face a severe shortage of funds, this infusion of equity through Fund of Funds will help the businesses to expand the size as well as the capacity of the firm.

Global tenders up to Rs.200 crores in government procurements are also disallowed. And will help India in being self-reliant, and will also serve ‘Make In India’, said Sitharaman.

Follow us on TwitterInstagram, and like us on Facebook for the latest updates and interesting stories. 

Show More

Leave a Reply

Back to top button